Bitcoin price extended its correction below the USD 54,000 level. BTC tested the USD 53,500 zone before recovering slightly. The price is currently (04:00 UTC) consolidating near USD 54,000, with a major support near the USD 53,250 level.
Besides, most major altcoins are slowly gaining momentum, including ethereum, ADA, EOS, XRP, XLM, LINK, BNB, UNI, BTT, bitcoin cash, DOT, and litecoin. ETH extended its rally and it traded to a new all-time high near USD 2,775. XRP/USD is rising and it seems like it could break USD 1.42 and test USD 1.45.
Total market capitalization
After a bearish reaction below USD 55,000, bitcoin price extended its decline. BTC even broke the USD 54,000 level, but it remained well above the USD 53,250 support zone. The price is now rising and it seems like it could attempt a test of USD 55,000. The key resistance is near the USD 55,500 level, above which there could be a strong increase towards the USD 56,500 and USD 57,000 levels.
Conversely, the price could move down below the USD 53,500 level. The main breakdown support is still near the USD 53,250 level.
Ethereum price is following a positive path above the USD 2,700 level. ETH even cleared the USD 2,750 level and traded to a new all-time high. The current technical structure is positive, indicating high chances of a strong move above the USD 2,800 level in the near term.
On the downside, the price is likely to remain stable near the USD 2,700 level. The main support is now forming near the USD 2,650 level.
BNB, ADA, DOGE, and XRP price
Binance Coin (BNB) is up over 5% and it cleared the USD 575 and USD 580 resistance levels. BNB is now approaching the USD 600 barrier. A close above the USD 600 level could set the pace for a sharp 10% increase in the coming sessions.
Cardano (ADA) is gained over 5% and it broke the key resistance near the USD 1.35 level. It is now trading above the USD 1.38 level and it seems like the bulls are likely to attempt an upside break above the USD 1.40 level.
Dogecoin (DOGE) tested the USD 0.328 level before starting a downside correction. DOGE is now trading near the USD 0.300 support. Any more losses might call for a test of the USD 0.280 support zone in the near term. On the upside, the USD 0.320 and USD 0.328 levels are key hurdles.
XRP price remained well bid above the USD 1.32 level and it started a fresh increase. XRP cleared the USD 1.40 resistance and it is showing a lot of positive signs. If the bulls succeed in clearing USD 1.42, the price could surge towards the USD 1.45 resistance zone.
Other altcoins market today
Many altcoins climbed over 5% in the past few hours, including FTM, 1INCH, CAKE, CHZ, HT, ENJ, ALGO, ICX, TFUEL, OKB, MATIC, DENT, CHSB, MANA, and AVAX. Out of these, FTM surged 25% and it cleared the USD 0.62 level.
To sum up, the bitcoin price is stuck below the USD 55,000 level. BTC must settle above USD 55,000 and USD 55,500 in the coming sessions to start a fresh increase.